Blockchain gaming guilds are the continuation of an ancient tradition. Guilds have existed since the beginning of capitalism in the fourteenth century. The most popular European artisan guilds were seven major guilds of Florence known as Arti Maggiori, which helped refine and improve crafts and trades from medicine to banking and weaving.
Can blockchain gaming guilds perform a similar role to help refine and improve games and gameplay? We’re in the middle of rapid experimentation to find out.
Colin Goltra, chief operating officer of Yield Guild Games — a decentralized autonomous organization — says that similar to the ancient guilds, a gaming guild is a group of players who pool their resources and collaborate to achieve greater rewards. They work with valuable in-game digital assets in games developed by decentralized communities.
As the blockchain gaming sector grows rapidly, guilds have positioned themselves as key entry points for new players, offering unique feedback loops with informative insights into game design, future gameplay and education around blockchain features of games.
Gaming guilds onboard new players
Up to date and accurate research on blockchain gaming guilds appears thin on the ground. According to BreederDAO figures, a Philippine-based blockchain gaming startup, the top 25 guilds had a potential base of 900,000 players by the end of 2021, but only 89,935 scholarships were operating. However today, YGG alone has 30,000 scholarships so those numbers are out of date, but it seems safe to say there is likely still a large untapped base out there.
Fundraising figures are also opaque. BreederDAO estimated that guilds raised more than $500 million by 2021, but DappRadar reported that guilds raised more than $320 million by the end of 2022. Adding to the fun, the World Economic Forum released a report at the end of 2022 suggesting the figure was closer to $200 million over the previous couple of years. Either way, the top guilds are well-funded despite significant revenue declines due to the impact of crypto winter. Most of the 24,000 guilds in the market right now are micro guilds of 10–100 players, while only 1% are in macro guilds with more than 1,000 players.
Gaming guilds provide education and tools, starting at the very beginning by equipping noob gamers with an understanding of NFTs and how crypto-enabled platforms work,…
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